Posted by: ownthepodium | February 11, 2010

Funding Parties OTP Briefing – February 10, 2009

Today and yesterday, we have had a flurry of media interviews, including a briefing by the Funding Parties of OTP at the Main Media Centre

The federal government, which has provided the most funding to OTP, announced a continuation of their funding for the winter program (about $10 million per year ) following the Games, and a continuation for the summer initiative (about $31 million per year  as we soon enter the 2010/11 fiscal year) as we soon enter the 2010/11 fiscal year.

The federal government, whose willingness to finance this project at the beginning, also twice helped enormously with cash flow needs of OTP. On one occasion, they doubled their annual contribution to buy time for VANOC corporate sponsors to generate their own funding, and then again this year, added an additional $11 million to their commitment (from the original $55 million to $66 million) to guarantee final year support for the winter teams.

VANOC has been a stellar financial partner, encouraging their sponsors to contribute to OTP, convincing the provinces and territories to contribute, encouraging participation from a few municipalities, and initiating the $20.10 campaign and the red mittens campaign with the support of the Globe and Mail, CTV and other partners.

The COC has contributed about $7 million over 5 years and this has been very useful and flexible funding. The CPC contributed what they could.

I don’t believe we have ever seen in Canada such a consortium of financial partners  cobble together fundin for a national program:  the COC, CPC, general public contributions via the Canadian Olympic Foundation, and national and international corporations and three levels of governments all contributing to help Canadian athletes own the podium. This example certainly suggests the OTP initiative has resonated across Canada and demonstrates national pride in the winter athletes who represent us.

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